Thai automobile sales see big revival

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Thai automobile sales see big revival 
: 17 Feb 2010
Sales revive in January

Local automobile sales in January posted the highest year-on-year increase in seven years, albeit from the very low base of January 2009 when the global financial crisis was at its worst.

A total of 49,560 vehicles were sold last month, up 54.5% from a year earlier, according to Toyota Motor Thailand, which compiles the industry data.

"The extraordinary growth reflected the economic slump [a year ago] ... but signs of recovery were seen in the second half of 2009," said Vutigorn Suriyachantanannont, a senior vice-president at TMT.

Sales of passenger cars in January rose 53.2% to 20,721 units while commercial vehicle sales climbed 55.4% to 28,839 units, including 24,648 pickup trucks, a 53.5% increase.

Mr Vutigorn said the recovery also reflected government stimulus spending, low interest rates, improving farm prices, recovering exports, as well as new model launches and promotional campaigns.

He said the market should keep growing in February, noting that the consumer confidence index of 71.9 in January was the best in 21 months.

However, he expressed concern that rising political tensions ahead of the Feb 26 Supreme Court decision on the assets of former prime minister Thaksin Shinawatra could affect sentiment.

Toyota retained its local leadership in January with 20,289 units sold and a 40.9% share. Isuzu ranked second with 10,168 units sold, mostly pickup trucks, and a 20.5% share. Honda came third with 7,701 units sold and a 15.5% share.

http://www.bangkokpost.com/business/economics/33018/sales-revive-in-january